Stock market next week: While the stock market has gone up this week, historical data does not support a full-fledged revival in the second half of this year. Sensex, Nifty extends gains for third week aided by banking, FMCG and realty stocks. Nifty surged 88 points on Friday and ended at 16,221 up by 3 per cent for the previous week. Volatility index India VIX ended at 18.40 down by 4 per cent. The BSE Sensex surged by 303 points to 54,482 mark. Nifty 50 has decisively surpassed its crucial downward slopping trendline resistance level of 16,020 on daily and weekly chart. The 5 days exponential moving average of the index has crossed and sustained above 13 and 26 days average, which indicates that the short term trend is likely to remain up.

Speaking on the stock market wrap for the week gone by, Rahul Shah, Head Of Research at Equitymaster said, "There have been 11 occasions in the past 30 years where the stock markets have earned a negative return for the first half of the year. And only in 2 out of those 11 have the markets recovered during the second half to close the year with decent returns. So, history is definitely not in favour of the markets recovering in the second half. Even at the macro level, there are still a lot of headwinds like inflation, crude and geopolitical events that may nip any recovery in the bud."

So, it would be important for the stock market investors and observers to remain vigilant about the major triggers like upcoming company results, US inflation data, dollar index, US Fed's speech, etc., that may dictate stock market movement in near term.

Here we list out top 5 stock market triggers that may impact the market this week:

1] Company's Q1 results: "As earning season began with the announcement of TCS results on Friday, stock market observers and investors are expected to keep an eye on upcoming company results as Q1 results of Delta Corp, HCL Tech, MindTree, ACC, LTI, Tata Elxsi, etc. are expected next week. So, those who are following stock specific strategy in current volatile market, they are suggested to remain vigilant about the announcement of earnings taking place next week," said Avinash Gorakshkar, Head of Research at Profitmart Securities.

2] Dollar index: "After breaching its strong hurdle placed at 105.85 levels, dollar index has surged up to its 20-year high of 1.7.78 levels. This has put strong pressure on most of the asset class including equities. Any ese or further rise in the index may have a direct impact on the equity markets across world. So, market investors are advised to remain vigilant about the movement in dollar index," said Anuj Gupta, Vice President — Research at IIFL Securities.

3] US inflation data: "US inflation data is expected next week and it will give an idea about the impact of US Fed's hawkish stance on interest rates. So, one has to remain informed about the developments in regard to US inflation data coming next week. Any disappointing figure in US inflation data is expected to put additional selling pressure on most of the asset class," said Anuj Gupta of IIFL Securities.

4] Fed's official speech: "The US Fed's official speech is expected next week and it will give an indication about how they are going to behave in regard to interest rate hike because previous hikes have failed to contain inflation concern. So, speculations are high that the US Fed may tone down its stance on interest rate hike. If this happens then there would be sharp rise in all asset class as dollar will slide against major global currencies," said Anuj Gupta.

5] Crude oil price: US Treasury Secretary Janet Yellen is traveling to the Indo-pacific region next weekend will seek support for capping the price of Russian oil. So, global equity market is expected to respond on both positive and negative outcome of this visit as spike in crude is expected to fuel global inflation that may go against equity markets.